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Nutrien (TSX:NTR) has chosen the Port of Longview in Washington state as the preferred site for a new potash export terminal, shifting one of Canada’s largest resource expansions across the border.

The Saskatchewan-based producer said that Longview emerged as the strongest candidate after evaluating 30 criteria, including rail access, deep-water capability and overall construction feasibility.

Nutrien maintained the Longview site is intended to complement its existing Canadian terminals, not replace them, and emphasized that planning remains in early stages.

A final investment decision is expected in 2027, and the proposed US facility could handle five to six million metric annually, with full build-out likely requiring between US$500 million and US$1 billion.

Stuart Smyth, a professor in the University of Saskatchewan’s Agricultural and Resource Economics department, said that Canada’s regulatory environment and rail bottlenecks have become decisive factors.

“To put a billion-dollar investment in place is going to require rail capacity improvements, and by the sounds of what Nutrien is saying, things are easier to get done in the United States than they are in Canada,” he said in an interview with CBC.

Smyth added that discussions around this move likely began years ago, well before recent trade tensions.

Nutrien, the world’s largest potash fertilizer producer, mines the mineral from six underground operations in Saskatchewan and ships most of its exports—up to 11 million metric tons per year—through Neptune Terminals in Vancouver’s North Shore.

Canpotex, co-owned by Nutrien, already ships about three million metric tons through Portland, Oregon, demonstrating a long-running reliance on US infrastructure when Canadian capacity tightens.

The Port of Vancouver reported potash exports up 26 percent year-over-year, but expansion at its North Shore and Westshore terminals may still fall short of projected global demand. Nutrien has repeatedly raised concerns about transportation delays in Canada and has cited rail congestion in Metro Vancouver and labour disputes that have disrupted past shipments.

The company said the Longview plan is designed to ensure reliability as it competes for market share in Asia.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

East Star Resources Plc (LSE: EST), the Kazakhstan-focused gold and base metals explorer, is pleased to announce an Independent JORC-Compliant Exploration Target (the ‘Exploration Target’) for the Soviet-era Rulikha Deposit. The Rulikha Deposit is located primarily on East Star’s 100%-owned tenements in the East Region of Kazakhstan. The estimate contains an upper limit of 23Mt @ 2.4% copper equivalent (CuEq), constrained by an open pit using the processing recoveries and metal prices contained in Table 2 below. Using the upper limit assessment, the deposit has the potential to contain over 550,000 tonnes of copper; nearly double the CuEq metal of the Company’s Verkhuba Copper Deposit.

The town of Rulikha and the district of Shemonaikha have already provided East Star with the required land access approvals to drill, however, further environmental approvals are still required.

Highlights:

• Near-surface, high-grade copper
  • Vein 1 contains very high Cu grades and significant thickness
  • Mineralisation begins from approximately 30 m depth resulting in a low strip ratio
• Multiple payable metals
  • Contributions from Zn, Ag, Pb and Au improve optionality and potential economics
• Excellent infrastructure
  • Rail (<2km), roads, power lines, existing concentrators within trucking/rail distance
• Large mineralised system
  • Numerous mineralised lenses over a 1.9 km strike
  • Additional untested anomalies (such as the Rulikha North IP target) provide significant upside beyond current modelling
• Water, the local settlement, and moving infrastructure are three hurdles which need to be overcome for permitting drilling and any future mining of this deposit

Table 1: Exploration Target, Upper and Lower Limit

Independent Consultant Recommendations to Convert to a Mineral Resource

1. Verification/twin drilling of Vein 1 and upper lens system

2. Infill drilling to confirm continuity and reduce spacing

3. Density measurements

4. Metallurgical sampling

5. Regulatory approvals for water-protection areas

Alex Walker, CEO of East Star Resources, commented:

‘We’re delighted to add a second and significant multi-element advanced exploration target to our portfolio. If converted to a JORC resource, Rulikha could increase our copper inventory by three times, while the economic modelling, based on the limited historic drill data available, provides an early indication of an extremely robust operation. East Star will need to undertake the significant consulting work to advance this project, and we look forward to working with the government and local communities to realise the shared benefits such a development could bring.’

Figure 1: Two Priority Target Areas Requiring Verification Drilling

Figure 2: Samples from Site Containing Copper Oxides and Sulphides Directly Above Target 1

Table 2: Pit Optimisation Parameters

Reference

Nichols, R (2025) Estimation and Reporting of an Exploration Target for the Rulikha Deposit, East Kazakhstan. [Accessed 20 November 2025]. Available at: https://www.eaststarplc.com/presentationsandreports

Contacts:

East Star Resources Plc

Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)

SI Capital (Corporate Broker)

Nick Emerson
Tel: +44 (0)1483 413 500

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob / Anna Stacey
Tel: +44 (0)20 7390 0234

About East Star Resources Plc

East Star Resources is focused on the discovery and development of copper and gold in Kazakhstan. The Company is pursuing multiple exploration strategies including:

• Volcanogenic massive sulphide (VMS) exploration, which to date includes a deposit with a maiden JORC MRE of 20.3Mt @ 1.16% copper, 1.54% zinc and 0.27% lead, in an infrastructure-rich region, amenable to a low capex development
• Copper porphyry and epithermal gold exploration, with multiple opportunities for Tier 1 deposits and a $25 million+ strategic JV agreement with Endeavour Mining for gold exploration

Visit our website:

www.eaststarplc.com

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/east-star-resources/

X: https://x.com/EastStar_PLC

Subscribe to our email alert service to be notified whenever East Star releases news:

www.eaststarplc.com/newsalerts

The person who arranged for the release of this announcement was Alex Walker, CEO of the Company.

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) (‘UK MAR’). Upon the publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain.

Source

New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to advise that it has received firm commitments to subscribe for A$2,250,000 (before costs) through a placement of 107,142,857 shares (‘New Share‘) to professional and sophisticated investors at an issue price of $0.021 per share (‘Placement‘). Participants in the Placement will receive one (1) free attaching option for every two (2) New Shares allocated in the Placement, with an exercise price of $0.04 per option and a 2-year expiry from the date of issue (‘Attaching Options‘).

Highlights:

• New Frontier successfully completes a $2.25m placement at $0.021 per share, with strong support from new and existing sophisticated and institutional investors
• The funds will be utilised to expedite advancing the Harts Range Project post-entering a binding commercial framework with Metallium Ltd (ASX: MTM)1, which aims to:
  • Create a novel processing pathway for Harts Range ore, targeting Heavy Rare Earth Elements (HREE) supply to US magnet and defence customers
• The key catalyst was using MTM’s proprietary Flash Joule Heating (FJH) technology on Harts Range raw ore (25kg bulk sample), which delivered exceptional beneficiation results, including1:
  • ~20x upgrade in total REO from 1.7% → 35 % (TREO) in a single step flash; and
  • ~53x enrichment in dysprosium (Dy2O3) to 10.03% and 21x in terbium (Tb4O7) to 0.64% – with complete removal of detectable Fe, Si and Th from raw, un-beneficiated (no flotation, acid leaching or hydrometallurgical pre-conditioning) ore
• Drilling results are expected over the coming weeks as a ~2,500m RC drilling campaign (up to 46 holes), commences at Harts Range, targeting depth extensions of HREE mineralisation, particularly dysprosium and terbium
• Funds will also be allocated to progress the mining lease application2 at the NW Queensland Copper Project including ongoing work with Austral Resources Ltd (ASX: AR1)

Gerrard Hall, Chairman, commented:

‘Receiving the exceptional beneficiation results for dysprosium and terbium from Harts Range raw ore then executing a binding commercial framework with Metallium to create a potential pathway to supply US magnet and defence customers has built up tremendous forward momentum for New Frontier ahead of our maiden drilling campaign getting underway. As such, we are delighted with the overwhelming support from new and existing investors for this capital raise.

The funds will enable the Company to expedite advancing the Harts Range Project and build upon the emerging relationship with Metallium, while concurrently progressing work on the Big One mining license application at the NW Queensland Copper Project. This is an exciting time for New Frontier. With clear development routes for both the Harts Range and NW Queensland Projects, the Board believes the Company is well positioned to deliver significant value for shareholders.’

Placement Details

Under the Placement, the Company will issue 107,142,857 New Shares at an issue price of $0.021 per

share to raise $2,250,000 (before costs). The issue price of $0.021 per New Share represents:

• 16.0% discount to the last close price of A$0.025 on Thursday, 20 November 2025; and
• 15.8% discount to the 10-day volume weighted average price of A$0.0249.

The Company will also issue 53,571,430 Attaching Options. The Attaching Options will be issued subject to shareholder approval, to be obtained at a General Meeting (‘EGM’) of the Company which is intended to be held on or around 31 January 2026 (refer to proposed Placement timetable below). The New Shares issued under the Placement and shares issued upon the exercise of the Attaching Options will rank pari passu with the Company’s existing shares on issue. A total of 33,083,033 New Shares will be issued under ASX Listing Rule 7.1 and a total of 74,059,824 New Shares will be issued under ASX Listing Rule 7.1A.

The capital raised from the placement will be used for ongoing exploration and related activities including:

• Expediting development work at Harts Range and development of a commercial framework with Metallium;
• Big One Deposit mining lease application and ongoing work with Austral Resources; and
• General working capital.

Bell Potter Securities Limited acted as Lead Manager and Bookrunner to the placement. Refer to Appendix 3B dated 25 November 2025 for details of the Lead Manager fees.

The proposed Placement timetable is set out below:

The above timetable is indicative only and subject to change. New Frontier reserves the right to amend any or all of these dates at its absolute discretion, subject to the Corporations Act 2001 (Cth), the ASX Listing Rules and any other applicable laws. The quotation of the new shares is subject to approval from the ASX.

Authorised by the Board of New Frontier Minerals Ltd.

For further information please contact:

REFERENCES

1. NFM ASX Release (18 November 2025) – Binding Commercial Framework with Metallium Post Exceptional Heavy Rare Earth Results from Harts Range
2. NFM ASX Release (13 November 2025) – NFM Lodges Mining Lease Application for Big One Copper Deposit

About New Frontier Minerals

New Frontier Minerals Limited is an Australian-based focussed explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as an economic mining operation. Through the application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests up the value curve. Current focus will be on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project which is circa 140km north-east from Alice Springs in the Northern Territory. Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland.

New Frontier Minerals is listed on the LSE and ASX under the ticker ‘NFM’.

Competent Persons Statement

The scientific and technical information in this announcement, which relates to metallurgical results, exploration results and the geology of the deposits described, is based on information compiled and approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the requirements of a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience relevant to Rare Earth Elements (REE), industrial mineral copper mineralisation types, as well as expertise in the quality and potential mining methods of the deposits under consideration. Additionally, he has 25 years of experience in the estimation, assessment, and evaluation of exploration results and mineral resource estimates, which are the activities for which he accepts responsibility. He also successfully completed an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM Resources and was engaged by New Frontier Minerals Limited to prepare the documentation for several prospects, specifically those within the Harts Range Prospects upon which the Report is based. Mr Biggs consents to the inclusion in this announcement of the matters based on his information and supporting documents in the form and context in which it appears.

Furthermore, the full nature of the relationship between himself and New Frontier Minerals Limited has been disclosed, including any potential conflicts of interest. Mark Biggs is a director of ROM Resources, a company that is a shareholder of New Frontier Minerals Limited, and ROM Resources provides occasional geological consultancy services to New Frontier Minerals Limited.

The Report or excerpts referenced in this statement have been reviewed, ensuring that they are based on and accurately reflect, in both form and context, the supporting documentation relating to exploration results and any mineral resource estimates. The release of the Report and this statement has been consented to by the Directors of New Frontier Minerals Limited.

Forward Looking Statements

Certain information in this document refers to the intentions of New Frontier Minerals Ltd, but these are not intended to be forecasts, forward-looking statements, or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future is subject to risks, uncertainties and other factors that may cause New Frontier Minerals Ltd’s actual results, performance, or achievements to differ from those referred to in this announcement. Accordingly, New Frontier Minerals Ltd, its directors, officers, employees, and agents, do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated. The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this announcement will therefore carry an element of risk. The announcement may contain forward-looking statements that involve several risks and uncertainties. These risks include but are not limited to, economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of approvals, regulatory risks, operational risks, reliance on key personnel, Ore Reserve and Mineral Resource estimates, native title, foreign currency fluctuations, exploration risks, mining development, construction, and commissioning risk. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

Source

Prince Silver Corp. (CSE:PRNC)(OTCQB:PRNCF)(T130: Frankfurt)(‘Prince Silver’ or the ‘Company) is pleased to provide the following progress update on its 2025 reverse-circulation (‘RC’) drilling campaign at the Prince Silver Project (the ‘Prince Project’ or the ‘Project’) in Lincoln County, Nevada, located approximately three kilometres southwest of the historic mining town of Pioche (See Figure 1 for location). The program is advancing well, with eight RC drill holes now completed and the first set of assay results expected in early 2026.

Advancing the Largest Modern Drill Program at Prince

The fully funded 2025 drill program comprises approximately 30 planned RC holes totaling 21,000 feet (6,500 metres). Current drilling is focused on evaluating near-surface (less than 300 metres), carbonate replacement (CRD) silver-gold-manganese and base metal mineralization, and sediment-hosted gold-silver zones along a 3,500-foot (~1,070 metres) structural corridor that ranges in width from 600 to 1,200 feet (~180-360 metres). Mineralization at the Project remains open in all directions within shallow zones presenting open-pit mining potential.

The Pioche mining district is one of Nevada’s most well-known polymetallic camps, and historical records highlight the importance of the past producing Prince Mine within the camp. Previous production from the historic Prince Mine totaled 1.12 million tonnes grading 4.5% zinc, 100 grams per tonne (‘g/t’) silver, 2.8% lead, and 0.5 g/t gold, (Gemmill, 1970), mined from underground high grade sulphide replacement zones within limestone and near-surface oxidized manganese-rich material.

Derek Iwanaka, Chief Executive Officer of Prince Silver Corp., commented:

‘This is the largest modern drill program undertaken at the Prince Project since historical drilling in 2012, and thus far we are very encouraged by the geological indicators we are seeing across the completed holes. With independent laboratory assaying for six holes now underway, we anticipate entering an interesting period of news flow for the Company in the coming year. Results are expected to provide critical insight into the scale and continuity of mineralization across the ‘Exploration Target,’ as defined below and, across the broader mineralized system helping to shape the next phase of drilling, with the objective of incorporating the new data into an initial 43-101 compliant mineral resource estimate. We believe Prince is just beginning to demonstrate its potential as a significant silver-gold-manganese (polymetallic) exploration asset in Nevada.’

Historical drilling at the Prince Project identified an exploration target (the ‘Exploration Target’) as outlined in an independent report prepared following JORC guidelines (JORC standards for the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) by OmniGeoX Exploration Consultants of Perth, Australia, based on historical surface and underground drilling. The report is titled ‘Prince Project Exploration Target’, dated April 24, 2024, authored by Dr. Lachlan Rutherford and Michael Martin (OmniGeoX Exploration Consultants, 2024, Prince Project Exploration Target, Independent Report prepared for Prince Silver Corp.). The Exploration Target was based on 129 historic drill holes drilled through mineralized carbonate replacement beds and host Pioche Shale up to 300 metres in depth. Mineralized polymetallic intersections based on historical block modelling suggest the immediate Exploration Target is between 25-43Mt with grades ranging from 1.44-1.57% Zn, 0.78-0.87% Pb, 0.28-0.40g/t Au, 37-40g/t Ag and 3.62-4.30% Mn.

More comprehensive details on the Exploration Target and historic production are also available in the Company’s press release dated February 27, 2025, available on the Company’s web site and at SEDAR+ (Prince Silver Corp., 2025, Historic Drilling and Production Summary, News Release dated February 27, 2025, SEDAR+ Filing).

Readers are cautioned that the Exploration Target is not an ‘inferred’, ‘indicated’ or ‘measured’ mineral resource compliant with National Instrument 43-101 (‘NI 43-101’). The Exploration Target has been determined based upon 129 historic drill holes totaling 16,606 metres, historic production records including mine level plans and 3D modelling of mineralization and geology. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource.

2025 Drilling Progress

Previous drilling has documented substantial mineralized thicknesses at Prince, including CRD zones up to 370 feet (~112 metres) and sediment-hosted gold-silver mineralization up to 160 feet (~49 metres). The ongoing program is designed to infill drill to reduce drill spacing between historic drill holes testing known mineralized zones continuity and through step out drilling to test potential expansion of the known mineralized system using modern sampling, logging, and analytical procedures.

As of the date of this news release, the following RC holes have been completed to the following depths:

PRC-26 – 955 ft (291 m)
PRC-27 – 925 ft (282 m)
PRC-28 – 920 ft (280 m)
PRC-29 – 920 ft (280 m)
PRC-30 – 890 ft (271 m)
PRC-31 – 955 ft (291 m)
PRC-32 – 945 ft (288 m)
PRC-33 – 950 ft (289 m)

Continuous 5-foot (~1.5-metre) RC chip samples were collected from each hole, and all intervals were logged by a Company geologist under the supervision of a Registered Professional Geologist. Approximately 100 samples per hole were collected from mineralized zones for assaying, representing roughly 500 feet (~152 metres) of assayed drill cuttings. Samples selected for assaying were based on mineralization and alteration.

Outlook:

With drilling and analytical work well underway, Prince Silver is expecting to enter a more news catalyst-rich period in 2026. The pending assay results represent the first major modern dataset generated at the Prince Project and are expected to refine geological models, guide follow-up targeting, and help evaluate extensions of both the CRD and sediment-hosted systems.

Quality Assurance / Quality Control (QA/QC)

The QA/QC program has been designed to meet or exceed CIM and AUSIMM standards. Duplicate samples are extensively used to provide verification both at the primary analytical laboratory and at a second independent laboratory as the program progresses. In addition, a certified field standard is inserted for each drill hole set, and sample blanks are randomly included, with no more than one per hole.

All samples are shipped to the laboratory under secure, standard chain-of-custody procedures. Samples are analyzed using 43-element MS-ICP with aqua regia digestion. Samples exceeding limits for Mn, Zn, or Pb are further tested using wet chemical assays. Most samples are also fire assayed for gold and silver using a one-assay-ton gravimetric method, and an average of four samples per hole will have specific gravity measurements conducted at the laboratory.

The principal analytical laboratory for the program is Skyline Assayers & Laboratories Inc., located in Tucson, Arizona. Skyline is an ISO-accredited facility.

Qualified Person Statement

The technical information in this news release has been reviewed and approved by John Hiner, SME Registered Member and Independent Geological Consultant to Prince Silver Corp., who is a ‘Qualified Person’ as defined by National Instrument 43-101.

About Prince Silver Corp.

Prince Silver Corp. is a silver exploration company advancing its flagship Prince Silver Project in Nevada, USA, featuring a near-surface, historically drilled deposit that remains open in all directions. The Company also holds an interest in the Stampede Gap Project, a district-scale copper-gold-molybdenum porphyry system located 15 km north-northwest, highlighting Prince Silver’s focus on high-potential, strategically located exploration assets.

On Behalf of the Board of Directors

Derek Iwanaka, Chief Executive Officer
Tel: 236-335-9383
Email: info@princesilvercorp.com
Website: www.princesilvercorp.com

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as ‘may’, ‘expect’, ‘estimate’, ‘anticipate’, ‘intend’, ‘believe’ and ‘continue’ or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: completion of the Acquisition and related transactions, proposed drill programs, amendments to the Company’s website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Source

Click here to connect with Prince Silver Corp. (CSE:PRNC)(OTCQB:PRNCF)(T130: Frankfurt) to receive an Investor Presentation

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BHP Group (ASX:BHP,NYSE:BHP,LSE:BHP,OTCQB:BHPLF) confirmed in a statement on Monday (November 24) that its discussions on a merger with Anglo American (LSE:AAL,OTCQX:NGLOY) have officially ended.

The discussions trace back to April 2024, when BHP made its first offer to Anglo to combine their copper assets.

Copper, in particular, has become a prime target as producers seek scale and efficiency in the face of tightening supply and the costly hunt for new deposits.

BHP’s six-week pursuit yielded a total of three offers, including a rejection letter from Anglo in May.

At the time, Anglo said that the deal did not meet its expectations.

In 2025, BHP was triggered to make another bid for Anglo following Anglo’s announcement of a merger with Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK,OTCQX:TCKRF).

The move was to hinder the supposed new entity, which is projected to become the second-largest listed copper-focused producer, after BHP.

In its statement, BHP said that it is now abandoning its bid for Anglo.

“Whilst BHP continues to believe that a combination with Anglo American would have had strong strategic merits and created significant value for all stakeholders, BHP is confident in the highly compelling potential of its own organic growth strategy,” the mining giant said in its statement.

According to media reports BHP saw Anglo as a means of keeping its dominance in copper.

“While it remains the world’s top producer, its lead is narrowing in the years ahead without significant new projects,” Reuters noted.

Additionally, Berenberg analysts, noted that the Anglo-Teck merger is now more likely to happen after BHP conceded.

“A BHP bid for Anglo would have frustrated that deal, but with BHP now stepping away, it appears that the interloper risk for Anglo has materially reduced and the Anglo/Teck Resources deal is likely to go ahead, assuming approvals are received,’ analysts wrote.

The Anglo-Teck merger is still awaiting approval under the Investment Canada Act.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.